MRI Software LLC is acquiring TCAM Asset Management, which provides asset and portfolio management, advisory and consulting services to owners, investors and public agencies in the affordable housing industry. This is the second deal in as many months for MRI, following the October acquisition of IPM Software, a provider of affordable housing property management, accounting and compliance solutions. Bringing TCAM's investment expertise and software-enabled services into the fold allows MRI to provide managed and consulting services for all major stakeholders in the affordable housing lifecycle — from financing and development to asset, investment and property management. Boston-based TCAM provides services to clients for more than 1,600 properties and 176,000 apartment units across 48 states, Washington, D.C., and Puerto Rico. TCAM experts bring a combined 325 years of experience in the affordable housing and tax credit industries and success in leading the underwriting, structuring and management of diverse, multi-billion-dollar portfolios. The company's clients include world-leading banks, insurance companies, real estate developers, housing agencies, and more. Prior to this acquisition, TCAM had already been using MRI's Investment Central product as part of its asset management offering. "TCAM has been an MRI client for 10 years and, throughout our relationship, we have been highly impressed by the team's deep expertise in affordable housing and tax credit asset management," Stan Price, senior vice president of investment solutions at MRI Software, said in a statement. "TCAM's asset management and advisory services are a natural extension of MRI's comprehensive investment and property management software and data management services, enabling MRI to provide a complete solution for affordable housing investors, syndicators, owner/operators, and housing agencies."
